May Sees Breakthrough Momentum in Global Ophthalmology Sector with Multiple Clinical Approvals, Strategic Investments, and M&A Deals

　　【Pharmaceutical Network Industry DynamicsRecently, it was reported that C-MER Medical plans to lead the B-round financing of CHIGENOVO Co., Ltd. with an investment of approximately 110 million yuan, acquiring a 10.23% stake to become the second-largest shareholder. CHIGENOVO is a specialized ophthalmic gene therapy company in China, deeply engaged in the field of precision treatment for hereditary eye diseases. Its core product, ZVS101e, is an innovative gene therapy solution targeting Bietti crystalline dystrophy (BCD), a rare blinding eye disease currently without effective treatment. The product is expected to complete Phase III clinical trials in China by the end of 2025 and has already received approval from the U.S. FDA to conduct Phase III clinical trials.
 

In addition, CHIGENOVO also has the RHO gene editing therapy ZVS203e for autosomal dominant retinitis pigmentosa, which has entered Phase I/II clinical development and is the first gene editing treatment product of its kind in China to receive FDA IND approval.
 

Through this investment, CHIGENOVO is expected to bring an attractive "second growth curve" and profit structure optimization expectations for C-MER Medical. Notably, in May 2026, the ophthalmology sector saw significant activity. In addition to C-MER Medical's strategic stake in CHIGENOVO, many domestic pharmaceutical companies received clinical approval or launched new drugs, while multinational pharmaceutical companies made heavy investments in acquiring ophthalmology firms.
 

On May 22, Ma Yinglong announced that its subsidiary, Jiangxi Ma Yinglong Meikang Pharmaceutical, had received the "Drug Registration Certificate" for Bromfenac Sodium Eye Drops issued by the National Medical Products Administration. The drug is suitable for symptomatic treatment of inflammatory diseases of the external and anterior segments of the eye [conjunctivitis, scleritis, postoperative inflammation], with domestic sales projected to reach 128 million yuan by 2025. To date, the company has invested a total of 7.7202 million yuan in R&D.
 

On May 21, Xingqi Eye Drops announced that the company had received the "Drug Registration Certificate" for Bimatoprost Eye Drops issued by the National Medical Products Administration. According to the announcement, Bimatoprost Eye Drops were approved in two specifications: 0.03% (0.4ml: 0.12mg) preservative-free single-dose eye drops and 0.03% (3ml: 0.9mg) multi-dose eye drops. The indications for both specifications are for reducing intraocular pressure in patients with open-angle glaucoma and ocular hypertension.
 

On May 19, Kanghong Pharma announced that its wholly-owned subsidiary, Kanghong Biotech, received the "Drug Clinical Trial Approval Notice" issued by the National Medical Products Administration. KH812 Intravitreal Injection has been approved for clinical trials. KH812 Intravitreal Injection, a biosimilar developed by Kanghong Biotech, effectively interferes with increased vascular permeability, neovascularization, and vascular inflammation, thereby inhibiting or alleviating symptoms such as retinal edema, ischemia, and hemorrhage.
 

On May 6, Bayer announced that it would acquire Perfuse Therapeutics, a biopharmaceutical company, to enhance its ophthalmology portfolio. The deal, which has a potential value of up to $2.45 billion, will give Bayer full rights to PER-001. PER-001 is a small molecule endothelin receptor antagonist (ERA) currently in Phase II clinical development for the treatment of glaucoma and diabetic retinopathy.
 

In general, the ophthalmology sector achieved key breakthroughs in technological innovation and industry integration in May. The industry believes that this represents a systemic qualitative change from the source of technology to business models, and from product innovation to industrial ecosystems. In the future, companies that can break down disciplinary barriers, integrate pharmaceutical and device resources, and build ecosystem synergies will embrace more development opportunities.
 

　　Disclaimer: In no event shall the information or opinions expressed in this article constitute investment advice to any person.